HARTFORD, CONN. – Carmen Sierra, executive director of CAUSA, Inc., (Connecticut Association for United Spanish Action), has been elected Chair of the Hartford Economic Development Commission, effective January 15. She will succeed David R. Kovacs, who has decided to step down at the end of his term as commissioner, which expires in March.

Adam M. Cloud, a director in the Public Finance Group at Advest, Inc., was elected vice chair of HEDC.

“Carmen is a dynamic leader who will work closely with HEDC’s leaders and staff to keep up the positive pace of economic development in Hartford,” said Mayor Eddie Perez. “She is a strong successor to David Kovacs who has been instrumental in leading HEDC through its formative years and in helping to move economic development to the forefront.”

As executive director of CAUSA since 2000, Sierra directs public policy research and advocacy on behalf of all statewide Hispanic non-profit organizations. Prior to joining CAUSA, she was executive assistant to the state Comptroller. Prior to her work as an HEDC commissioner, she also volunteered with Latin American Students Organization and the National Conference of Puerto Rican Women, and serves as a director of the Capital Region Workforce Development Board, Catholic Family Services, Institute of Hispanic Family, Connecticut Women’s Council and Salvation Army. Recently, Sierra was awarded a fellowship to attend Harvard University’s John F. Kennedy School of Government program for Senior Executives.
Speaking about her new role, Sierra stated, “I was honored to be selected to chair the HEDC at such a key time in Hartford’s history. I look forward to working as a partner with elected officials, our staff and the many involved players to assure that Hartford continues to grow and reach its potential.”

Cloud is responsible for the origination and management of approximately $5.5 billion of tax-exempt and taxable bond financings within the State of Connecticut for Advest. He has shared his economic development expertise though the HEDC, where he chairs the Incentives Committee and participated in the creation of the City of Hartford’s Tax Increment Finance policy statement and guidelines and the city’s Comprehensive Economic Development Strategy.
“We’re looking forward to continuing to work with Carmen and Adam. As commissioners, they have both been valuable resources to the staff of HEDC,” said Harry Freeman, HEDC executive director. “The commissioners are all very supportive of our efforts to lead the development of the new Hartford.”

In other related news, Cloud also has been re-elected by his fellow commissioners as chairman of Hartford Redevelopment Agency (HRA). He will lead that board with Richard Staples, vice president of Sovereign Bank, who was re-elected as vice chair. HEDC serves as the administrative arm of HRA, and seven of the 11 HEDC commissioners also serve as HRA commissioners. The HRA manages 21 Redevelopment Plans in the city.

Cloud commented, “I am looking forward to furthering the great work that has been done to date by both the HRA and HEDC. The close working relationship of these two organizations has benefited the city greatly.”

The public is invited to attend any of the HEDC or HRA meetings. They are conducted the second Thursday each month at Capital Community College, Room 1122 – HEDC meets at 4 p.m., HRA meets at 5:30 p.m.

About Hartford Economic Development Commission
HEDC is a public/private partnership created by the City Council in 1999 to serve as the principal economic development agent for the City. The City has entrusted HEDC with its vision for prosperous growth and has charged HEDC to lead the development of the new Hartford. HEDC provides one-on-one services to corporations and small neighborhood businesses throughout the city. HEDC is also an active partner with Hartford 2000 in the Neighborhood Training Institute to train Hartford’s neighborhood leaders to help revitalize their communities.

The Neighborhood Leadership Training Program was conducted with grants from the Hartford Foundation for Public Giving and the Connecticut Department of Economic and Community Development. HEDC, Hartford 2000 and Leadership Greater Hartford are currently seeking the funding to support additional classes in 2003 and beyond.